Keras Resources Investee Reports "Outstanding" Results At Warrawoona

LONDON (Alliance News) - Keras Resources PLC on Tuesday said its investee, Calidus Resources Ltd, ...

Alliance News4 June, 2019 | 10:25AM

LONDON (Alliance News) - Keras Resources PLC on Tuesday said its investee, Calidus Resources Ltd, reported "outstanding" first assays results from the regional drilling programme at Warrawoona in Australia.

Shares in the mineral resource company were trading 2.2% higher at 0.36 pence each on Tuesday, having risen to 0.40p earlier. Keras holds a 32.3% stake in Calidus.

Among the highlights of the drilling programme, Calidus discovered 8 metres at 8.06 gram per tonne of silver from 56 metres and 4 metres at 8.87 gram per tonne of silver from 48 metres.

Keras Chief Executive Officer Russell Lamming said: "Calidus is reaching a tipping point as it focuses on growing its 1.25 million-ounce resource at Warrawoona, where a pre-feasibility study is due for completion in July."

He added: "Encouragingly, this first-pass regional drilling programme has identified shallow mineralisation up to 5 kilometres west from the Klondyke resource on the same geological structure, highlighting the potential for further near-surface gold mineralisation close to the proposed mine development."

https://www.morningstar.co.uk/uk/news/AN_1559640344433326000/keras-resources-investee-reports-outstanding-results-at-warrawoona.aspx